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Major features:
Equipment offers various bonuses instead of a simple attack and defense progression
Rebalanced classes, stats and spells, almost everything is usable now
Modified formulas that keep even high level techs useful
Expanded inbattle options with running, regular strong attacks and counter techs
Passive MP regeneration with high cost spells: be smart with your magic
Extensive boss AI changes
Accelerated level curve: from class changing at the earliest mana stone to facing the final boss at the level cap
Transformed the shield slot into a second accessoire slot for everyone, shields count as regular accessoires
Increased inventory capacity to 20 per item type instead of 9
Tons of bugfixes ranging from agility stats not working to Kevin's wolfform stacking attack bonuses
5 difficulties to choose from, covering the spectrum from "easier than vanilla" to "Atlus would be proud"